Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 902,824 shares of the business services provider’s stock after selling 8,410 shares during the period. Bank of New York Mellon Corp’s holdings in Broadridge Financial Solutions were worth $177,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Confluence Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $144,033,000. APG Asset Management US Inc. bought a new position in Broadridge Financial Solutions during the 4th quarter valued at $70,498,000. Norges Bank bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after buying an additional 323,051 shares during the period. Finally, Veritas Investment Partners UK Ltd. boosted its stake in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after buying an additional 147,293 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.2 %

Broadridge Financial Solutions stock traded up $0.42 during midday trading on Monday, reaching $209.45. The stock had a trading volume of 483,220 shares, compared to its average volume of 524,369. The firm’s fifty day simple moving average is $206.16 and its two-hundred day simple moving average is $201.77. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 35.82 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $3.21 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.68%. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Analyst Ratings Changes

BR has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. DA Davidson reiterated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,648 shares of company stock worth $19,297,633. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.